November Is Long-Term Care Month

Long-term care (LTC) insurance probably are not in first place on your to-do list, however it should really be. There are tons of misconceptions about LTC, just like it’s expensive, it’s unnecessary, understanding that care is covered by medical care insurance or Medicare.

But to be honest long-term care is generally not included your health insurance or disability plan. And LTC insurance is extremely affordable, specifically if you freeze rates years earlier because expense is primarily based on age and health status.

If you’re not convinced LTC is required, evaluate the following statistics:

• According for the Robert Wood Johnson Foundation, approximately 70% of adults need to have long-term care services-and that percentage increases as we grow older.
• The number of Americans who are required long-term care (whether fitness center in assisted living) is expected to enhance from approximately 12 million how to 27 million in 2050.
• Should you want it, your home health aide visit costs about $22/hour in Wisconsin. Full-time elderly care facility care in the private room costs, mostly, $50,336/year.

So simply what does LTC cover?

It helps cover long-term medical and non-medical services that is going to otherwise be paid of pocket. Some policies cover nursing home care, whilst some include coverage for an entire selection of services like care within an adult care center, assisted living, medical equipment, and formal and informal care.

If you’re interested in learning more about LTC insurance, let us know at Neckerman Insurance Services.